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Analyzing Stablecoin Supply and Activity Distribution (Full Length)

By |2023-04-06T16:51:59-04:00June 9, 2020|Antoine Le Calvez, General Research|

Key Takeaways The supply and activity distribution of a stablecoin can help us understand how it is used.  The ERC-20 variant of Tether shines as being particularly well distributed amongst its holders. Meanwhile, 6 accounts or less own 80+% of [...]

The Half-Time Show: The State of Bitcoin Network Security After the Halving

By |2023-03-24T17:42:03-04:00May 19, 2020|Karim Helmy, State of the Network|

Block rewards are currently the primary source of revenue for miners. A reduction in this reward due to the halving causes some miners to exit the network. In the short term the sudden drop-off of miners can potentially leave the [...]

Stablecoin Heatmaps Show Tether is Mostly Used During Asian and European Market Hours

By |2023-03-24T12:06:29-04:00May 12, 2020|Nate Maddrey, State of the Network|

Stablecoin market capitalization has almost doubled since the Black Thursday crash. But the exact cause of the surge is still unknown.  To help elucidate how different stablecoins are being used, we analyzed the times of day that stablecoins are being [...]

Introducing the CMBI Bitcoin Hash Rate Index and ‘Observed Work’

By |2023-03-24T17:42:12-04:00May 5, 2020|Ben Celermajer, State of the Network|

Designing The Tools For Hash Rate Futures: Introducing the CMBI Bitcoin Hash Rate Index and ‘Observed Work’   Key Takeaways To date, the critical role of Bitcoin miners has been unhedged and solely dependent on the price of Bitcoin. However, [...]

Assessing the Long-Term Fallout from Crypto’s Black Thursday

By |2023-03-24T12:02:36-04:00April 21, 2020|Antoine Le Calvez, State of the Network|

On March 12th 2020, now called “Black Thursday,” Bitcoin’s price dropped by nearly 50%, one of its largest drops since the Mt. Gox debacle. Source: Coin Metrics Reference Rates In our 43rd issue, we looked at the impact of that [...]

Investigating Bitcoin’s Changing Correlations

By |2023-03-24T12:02:24-04:00April 14, 2020|Nate Maddrey, State of the Network|

Is Bitcoin an Uncorrelated Financial Asset, A Safe Haven Asset, or Both? Investigating Bitcoin’s Changing Correlations By Nate Maddrey and the Coin Metrics Team The narratives about Bitcoin’s value have shifted over the years, and continue to be debated today. At different points, Bitcoin has [...]

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